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Secretive Shake-Up at Bank of China
Spurs Investigation by U.S. Officials

By

Matt PottingerStaff Reporter of The Wall Street Journal

Updated Jan. 14, 2002 12:01 a.m. ET

HONG KONG -- U.S. authorities are investigating the activities of the Bank of China, a disclosure that coincides with the dismissal of the bank's former president from his current job and the emergence of details about a secretive shake-up at the bank.

The Office of the Comptroller of the Currency, a branch of the U.S. Treasury Department that supervises federally chartered banks, is conducting the investigation of the U.S. activities of the state-owned bank, which is one of the four largest in China and has branches in New...